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I used to have a 2013 Toyota corolla that I traded in on a new 2017 Chevy spark in Dec 2017. I got it mainly because I thought it would have excellent gas mileage. Which it's OK but it's terribly slow and small. I want to trade it in for a 2016 certified corolla LE with 32k miles @ $13,800. It is at the local Toyota dealership and would have the power train warranty 7 years / 100,000 miles.
Now the spark has 10,800 miles currently and I still owe about $18500 on it.
I want a reliable car and I know corollas are reliable. Would this be a worth while trade I mean for a car with a cvt? What are chances something could go wrong like suspension, electrical, etc? I know I'm going to be upside down but I want a good reliable car. Would you do it? Thanks.
 

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2006 Corolla XRS
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In the long run, you will have a more reliablity with a Toyota over any domestic. Though, the quality has improved with the domestics, but that only goes for a shorter period of time.

If you could swing it, wait for the 2020 Corolla hybrid.

Nothing wrong with the 2016 Corolla, but it's easier to get out of the spark on a new vehicle versus the higher interest on a used Corolla.

Hope this perspective helps.
 

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2013 Corolla S
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No to CVT. Go back to a 2013 (while you can still find them under 60K) and get out from under that car loan.
 

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Maybe go back to the dealer where you got the Spark and see if they'll give you the info to track down your old 2013, then try to get rid of the Spark for what you owe on it and you'll just be out whatever you have to pay to get the 2013 back.

If you don't want the 2013 again and want something newer, I'd agree that the 2020 Corolla/Corolla Hybrid or the 2019-2020 Hatchback are good options, both for fuel economy and the decent performance you're probably after. I'd say work on finding the best way to get the most for the Spark, since you likely aren't going to get it with a trade in, since you owe almost what a new Corolla costs and the Toyota dealer isn't going to want to just trade cars.

Looking around at used cars, it seems models like the Spark and similar Leaf depreciate really, really fast, but hopefully yours has some options or a desireable color or something that makes it worth more than the others out there.


I don't think you have much to worry about with new-ish Corollas that only have 20-30K on them, since they almost all go 100-200-300K easily, provided the oil is changed regularly and other maintenance is performed properly.

When it comes to used cars though, even Toyotas from a dealer, don't believe anything they tell you, and get EVERYTHING in writing on the invoice. That "certified" label doesn't mean squat. If they say it has a 7 year/100,000 mile powertrain warranty, get it in writing on the invoice just like with a new car, don't trust them to just honor it when you pull into the dealership 75,000 miles later with problems. It's not just that salespeople can and do say anything to make a sale, it's that the same people aren't likely to be working there years or even months later when you do have a problem and say you were told it still had the warranty.


If you like the 2013 and it has the options you want and you can get the powetrain warranty in writing and work something out to sell/trade the Spark, sure, it'd probably be a decent enough car. Just do your due diligence and have the VIN checked for collision/insurance claim history, along with doing as good an inspection as you possibly can, for any signs of body damage or mechanical issues. Also, be sure to take a test drive or two or three, not just around the dealer but get on the highway and drive like hell for a short period to hear if any mechanical issues or noises pop up.
 

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I might be late with this response but honestly these days it's a 50/50 crap shoot. Lemons are everywhere! The Spark could go on forever, the Corolla could die in a week? Brands/names that meant quality back in the day don't so much today. I'm a diehard GM guy who has owned Toyotas and love them all. These days I just tell people to buy what they like and fits them.
 

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I wouldn't do it. I know it's not what you want to hear and I understand that, but if you still owe 18,5 on the Chevy and the Corolla cost 13,8 then you're talking about $32K plus all the fees, taxes, and interest. It's not worth it man. That will put you in a huge hole that takes a long time to recover from and I'm assuming if your choice of car is Corollas and Sparks then you're not swimming in money. In the scenario you're talking about trading in the Spark for the Corolla your car payment would be over $585 a month on a 5-year loan.

Your best case scenario would be find somebody who will take over the note on the Spark and hopefully you can scratch together some money for a down payment on the Corolla. In that case, I say go for it.
 
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